{"id":463272,"date":"2022-06-15T17:46:19","date_gmt":"2022-06-15T14:46:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/elon-musk-reacts-to-cryptocurrency-selloff-with-cryptonight\/"},"modified":"2022-06-15T17:46:19","modified_gmt":"2022-06-15T14:46:19","slug":"elon-musk-reacts-to-cryptocurrency-selloff-with-cryptonight","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/elon-musk-reacts-to-cryptocurrency-selloff-with-cryptonight\/","title":{"rendered":"#Elon Musk reacts to cryptocurrency selloff with &#8216;Cryptonight&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b72ad2e6f7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b72ad2e6f7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/elon-musk-reacts-to-cryptocurrency-selloff-with-cryptonight\/#%E2%80%9CElon_Musk_reacts_to_cryptocurrency_selloff_with_%E2%80%98Cryptonight%E2%80%9D\" >&#8220;Elon Musk reacts to cryptocurrency selloff with &#8216;Cryptonight&#8217;&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1>&#8220;Elon Musk reacts to cryptocurrency selloff with &#8216;Cryptonight'&#8221;<\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Billionaire and cryptocurrency superfan Elon Musk broke his silence on the recent collapse in digital asset prices \u2014 and responded to a meme revealing the next sector of the economy he expects to plunge.<\/p>\n<p>Musk reacted to the steep selloff in bitcoin, the largest cryptocurrency by market cap, which  briefly plunged below $21,000 \u2014 its lowest level since December 2020.<\/p>\n<p>\u201cCryptonight,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1536874842783244288\">Musk tweeted<\/a> Tuesday night.<\/p>\n<p>Musk also replied to a meme posted by Dogecoin co-creator Billy Markus. <\/p>\n<p>The cartoon image showed the grim reaper <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching a door labeled \u201creal estate\u201d after previously making grisly stops in rooms labeled \u201cstocks\u201d and \u201ccryptocurrency.\u201d<\/p>\n<p>\u201cTrue,\u201d Musk said in response to the post.<\/p>\n<p>The billionaire has repeatedly touted investments in cryptocurrencies in recent years. In March, he declared that he \u201cwon\u2019t sell\u201d his holdings in bitcoin, Ethereum and Dogecoin despite rising inflation and economic uncertainty that has led many investors to sell riskier asserts. The world\u2019s richest man has never disclosed how much of his wealth is tied to crypto.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>Last month, Musk jabbed at fellow billionaire Warren Buffett \u2013 a noted cryptocurrency skeptic who said he wouldn\u2019t agree to buy \u201call of the bitcoin in the world\u201d for $25.<\/p>\n<p>Earlier this year, Musk revealed that Tesla had begun accepting dogecoin for transactions in its online store. SpaceX is expected to follow suit in the near future.<\/p>\n<p>Tesla also spent $1.5 billion on bitcoin in February 2021 \u2013 a move the electric car marker said would provide \u201cmore flexibility to further diversify and maximize returns on our cash.\u201d At the time of the disclosure, the price of bitcoin was hovering in the $30,000 to $40,000 range.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-drop.jpg?w=1024\" alt=\"Bitcoin\" class=\"wp-image-22649345\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-drop.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-drop.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-cryptocurrency-price-drop.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bitcoin has plummeted since hitting an all-time high of $69,000 last November.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Bitcoin was priced at $21,363 as of Wednesday morning \u2013 a steep downturn from its all-time high of $69,000 last November. Several firms, including Coinbase and Gemini, are conducting layoffs and other belt-tightening measures owing to the onset of \u201ccrypto winter.\u201d<\/p>\n<p>While Musk did not elaborate on his view toward the real estate sector, the housing market has recently showed signs of a slowdown following a pandemic-era boom.<\/p>\n<p>As The Post reported, mortgage demand recently sank to a 22-year low as prospective buyers contend with steep prices and rising interest rates. The 30-year fixed mortgage rate was 6.28% as of this week despite hovering below 3.5% as recently as January.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/compass-redfin-layoffs-inflation-01.jpg?w=1024\" alt=\"Redfin sign\" class=\"wp-image-22656382\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/compass-redfin-layoffs-inflation-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/compass-redfin-layoffs-inflation-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/compass-redfin-layoffs-inflation-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Redfin noted a major slowdown in demand in May.<\/figcaption><figcaption><span class=\"credit\">Stephen Brashear<\/span><\/figcaption><\/figure>\n<p>Meanwhile, real estate firms Redfin and Compass each announced plans to slash hundreds of jobs on Tuesday due to increasingly difficult market conditions. Redfin said sales demand in May was 17% lower than the company anticipated.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/15\/elon-musk-reacts-to-cryptocurrency-selloff-with-cryptonight\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Elon Musk reacts to cryptocurrency selloff with &#8216;Cryptonight&#8217;&#8221; Billionaire and cryptocurrency superfan Elon Musk broke his silence on the recent collapse in digital asset prices \u2014 and responded to a meme revealing the next sector of the economy he expects to plunge. Musk reacted to the steep selloff in bitcoin, the largest cryptocurrency by market&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Elon-Musk-SEC-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,130325,76127,39394,4960,36402,10401],"class_list":["post-463272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-6-15-22","tag-cryptocurrency","tag-elon-musk","tag-layoffs","tag-tesla","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463272"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463273"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}